DLK Investment Management LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

DLK Investment Management LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,104 shares of the medical research company’s stock after selling 120 shares during the quarter. Amgen accounts for about 2.1% of DLK Investment Management LLC’s portfolio, making the stock its 20th largest position. DLK Investment Management LLC’s holdings in Amgen were worth $4,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. XTX Topco Ltd bought a new stake in Amgen in the second quarter worth $661,000. AE Wealth Management LLC raised its stake in shares of Amgen by 33.1% in the second quarter. AE Wealth Management LLC now owns 19,241 shares of the medical research company’s stock valued at $6,012,000 after acquiring an additional 4,789 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Amgen by 8.9% in the 2nd quarter. Pacer Advisors Inc. now owns 74,039 shares of the medical research company’s stock worth $23,133,000 after acquiring an additional 6,048 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Amgen by 4.5% in the 2nd quarter. Summit Trail Advisors LLC now owns 5,389 shares of the medical research company’s stock worth $1,684,000 after acquiring an additional 231 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in shares of Amgen by 9.2% during the 2nd quarter. Profund Advisors LLC now owns 61,993 shares of the medical research company’s stock worth $19,370,000 after purchasing an additional 5,248 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler decreased their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Redburn Partners cut their price target on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Trading Up 1.0 %

NASDAQ AMGN opened at $272.11 on Monday. The company has a 50 day moving average price of $273.95 and a 200 day moving average price of $307.20. The firm has a market cap of $146.27 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $4.96 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. Amgen’s payout ratio is 115.24%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.